Laurentian Bank of Canada (TSE:LB) Share Rating Reaffirmed by Credit Suisse Group

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Laurentian Bank of Canada (TSE:LB – Get Quote)The stock had its “underperforming” rating restated by stock analysts Credit Suisse Group in a report released Friday, Stock Target Advisor reports. They currently have a target price of CA$39.00 on the stock. Credit Suisse Group’s price target indicates upside potential of 6.18% from the current share price.

A number of other brokerages have also published reports on LB. TD Securities raised its price target on Laurentian Bank of Canada shares from C$46.00 to C$50.00 in a report released on Tuesday, February 15. National Bankshares raised its price target on Laurentian Bank of Canada shares from C$47.00 to C$49.00 in a Wednesday, February 23 report. Scotiabank lowered its price target on Laurentian Bank of Canada shares from C$50.00 to C$46.00 in a Wednesday, April 13 report. Barclays cut its price target on Laurentian Bank of Canada shares from C$46.00 to C$40.00 and set an “equal weight” rating for the company in a Wednesday May 11 research report . Finally, CIBC cut its price target on Laurentian Bank of Canada shares from C$44.00 to C$41.00 in a research report released Tuesday. Three equity research analysts gave the stock a sell rating, seven issued a hold rating and one gave the company a buy rating. According to data from MarketBeat, Laurentian Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of CA$45.00.

Shares of LB traded C$0.87 lower on Friday, hitting C$36.73. The company had a trading volume of 120,610 shares, compared to an average volume of 215,404. The stock has a market capitalization of C$1.59 billion and a PE ratio of 29.57. Laurentian Bank of Canada has a 1-year low of C$36.54 and a 1-year high of C$45.29. The company’s 50-day moving average is C$40.55 and its 200-day moving average is C$41.37.

Laurentian Bank of Canada (TSE:LB – Get Rating) released its latest quarterly earnings data on Wednesday, March 2. The company reported earnings per share (EPS) of C$1.26 for the quarter, beating consensus analyst estimates of C$1.22 by C$0.04. The company recorded revenue of C$257.54 million in the quarter, compared to the consensus estimate of C$254.10 million. On average, sell-side analysts expect Laurentian Bank of Canada to post earnings per share of 5.111354 for the current year.

About Laurentian Bank of Canada (Get a rating)

Laurentian Bank of Canada, together with its subsidiaries, offers various financial services to individuals, businesses and institutional clients in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking and Capital Markets. The company offers notice, demand and term deposits; commercial, residential and personal mortgages; financing of real estate, equipment and inventory; and life and disability insurance products.

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